The India market accounts for nearly 1% of the Asian sparkling wine market size. The market registered a compound annual growth rate (CAGR) of 4.3% during 2018-23 and 12% growth over 2022. According to GlobalData’s deep-dive analysis report, India sparkling wine market databook, other sparkling wine accounted for a notable share of 55% among various sparkling wine segments in the market in 2023, followed by champagne. The report also provides in-depth analysis and market forecast to 2027. Buy the report here.
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According to GlobalData’s company and brand analysis, Sula Vineyards, LVMH Moet Hennessy – Louis Vuitton and Bacardi held significant shares in the India sparkling wine market in 2023. Concurrently, Sula – Brut, Dom Perignon and Martini led in terms of brand market share. Sula Vineyards had the leading market share by volume in 2023. Companies operating in the India sparkling wine market continue to use innovation to target gaps in product offering. Continuous tracking of market size and company performance is important to help competitors capture and maximize profits.
GlobalData’s channel analysis reveals that on trade were the key channel of purchase for sparkling wine, along with food & drinks specialists. Also, hypermarkets & supermarkets recorded a notable growth during the COVID-19 pandemic, as consumers were forced to stay at home due to restricted movement opportunities.
On trade constituted the highest market share by volume in 2023. Consumers preferred this channel for its product assortment and competitive pricing. Food & drinks specialists was the next preferred channel in the India market.
Among the top Asian markets, Singapore accounted for the highest volume share in 2023, followed by South Korea, India, Japan, Thailand, and China.
With a growing number of consumers seeking to experiment with novel products, manufacturers and brands need to constantly innovate their flavours and formulations to remain relevant and competitive. Additionally, the popularity of e-commerce has made it easier for shoppers to compare product features and offerings across different brands.
To further understand and explore GlobalData’s insight into the sparkling wine category and market forecast to 2027, buy the report here.
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